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What Mikhail Menn told the leaders of the real estate market

The state’s top priorities in the sphere of construction and interaction with the business community was discussed by Mikhail Menn, Head of the Ministry of Construction, Housing and Utilities, at the first open meeting of the “Business Russia” committee on September 21st.

As Construction.ru was told by the press office of the Ministry, Mikhail Menn, speaking in the “Housing for the Russian Family” program, remarked that economy-class housing is one of the priorities of the Ministry’s activity. A number of amendments have been introduced in the program’s implementation conditions: the construction projects within the program will get preference for co-financing. “The introduction of such changes in the program will allow for the involvement of new participants and will result in an increase in housing construction volume,” the Minister stressed. Speaking on the situation in the housing construction sphere on the whole, he remarked that, by September 1st, 44.6m square meters were put in operation in Russia. This is 9% more than in the same period of 2014. However, housing purchase demand has begun to decrease because of a decrease in home equity lending availability. In this regard, the Ministry is developing measures of state support for the construction industry, including the subsidizing of rates. Mortgage loans rates on the primary housing market have been lowered, and now it is the turn of the secondary housing market. “We are always open to proposals from the business and professional communities, as only by working together can we achieve results”, Mikhail Menn said.